Reply to post: Re: Also England

Should the super-rich pay 70% tax rate above $10m? Here's Michael Dell's hot take for Davos

Nick Kew

Re: Also England

Blighty has had much higher marginal tax rates than that, once you include things like:

- "national insurance" - being more than half the total income tax paid for a person employed and on average income.

- loss of tax allowances for the above-average-paid: various bands at about £45k and £100k, for example.

- loss of means-tested benefits at the bottom end.

My effective tax rate as recently as 2003 was about 270%. I don't know how near to that you could get today.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon